Analysts Anticipate Harsco Co. (NYSE:HSC) Will Post Quarterly Sales of $450.91 Million

Brokerages expect Harsco Co. (NYSE:HSC) to post sales of $450.91 million for the current quarter, Zacks reports. Three analysts have made estimates for Harsco’s earnings, with the highest sales estimate coming in at $455.50 million and the lowest estimate coming in at $445.10 million. Harsco reported sales of $350.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 28.5%. The business is expected to announce its next quarterly earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Harsco will report full year sales of $1.88 billion for the current financial year, with estimates ranging from $1.83 billion to $1.90 billion. For the next year, analysts anticipate that the firm will post sales of $2.16 billion, with estimates ranging from $2.13 billion to $2.17 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Harsco.

Harsco (NYSE:HSC) last announced its earnings results on Friday, May 8th. The industrial products company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.14. The firm had revenue of $398.80 million during the quarter, compared to analyst estimates of $380.60 million. Harsco had a net margin of 30.74% and a return on equity of 9.64%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS.

A number of brokerages recently weighed in on HSC. Barrington Research upped their target price on shares of Harsco from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. ValuEngine upgraded shares of Harsco from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Stifel Nicolaus increased their price objective on shares of Harsco from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Lake Street Capital reduced their price objective on shares of Harsco from $31.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Zacks Investment Research upgraded shares of Harsco from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, June 10th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Harsco currently has a consensus rating of “Buy” and a consensus price target of $18.60.

NYSE HSC traded up $0.04 on Monday, reaching $12.89. The company had a trading volume of 344,400 shares, compared to its average volume of 1,012,922. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 2.16 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 1.51. Harsco has a 1-year low of $4.19 and a 1-year high of $27.07. The company’s fifty day moving average is $11.98 and its 200-day moving average is $12.84.

In related news, SVP Tracey L. Mckenzie sold 41,179 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $8.31, for a total value of $342,197.49. Following the completion of the sale, the senior vice president now directly owns 2,600 shares in the company, valued at approximately $21,606. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolann I. Haznedar bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $7.93 per share, with a total value of $79,300.00. Following the completion of the purchase, the director now directly owns 12,444 shares in the company, valued at approximately $98,680.92. The disclosure for this purchase can be found here. Company insiders own 1.81% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HSC. State Street Corp raised its holdings in Harsco by 2.8% in the 4th quarter. State Street Corp now owns 2,349,321 shares of the industrial products company’s stock valued at $54,058,000 after acquiring an additional 63,772 shares during the period. Victory Capital Management Inc. raised its holdings in Harsco by 11.1% in the 4th quarter. Victory Capital Management Inc. now owns 13,959 shares of the industrial products company’s stock valued at $321,000 after acquiring an additional 1,397 shares during the period. PNC Financial Services Group Inc. raised its holdings in Harsco by 23.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,663 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 1,443 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Harsco by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 704,959 shares of the industrial products company’s stock valued at $16,222,000 after acquiring an additional 3,104 shares during the period. Finally, FMR LLC raised its holdings in Harsco by 9.4% in the 4th quarter. FMR LLC now owns 1,335,072 shares of the industrial products company’s stock valued at $30,720,000 after acquiring an additional 115,096 shares during the period. 90.72% of the stock is currently owned by hedge funds and other institutional investors.

About Harsco

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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